222 W Prairie Ave W · Goodland, IN 47948

$30,000

2 bd · 1.0 ba · 1,196 sqft · SingleFamily public records

Built 1920 0.30 ac lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +3.7/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 0.3 acre lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).

Location & tenants

• Location reads 64/100 on livability (#402 in IN) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: employment D+, amenities F, commute F.
• South Newton School Corporation (rural): math 29% / reading 35% proficiency, ranked #219 of 301 in IN (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Newton Elementary School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 416 students, 68% FRL); South Newton Middle School (math 22% / reading 32%, grade F, #234 of 330 statewide, top 71%, 204 students, 71% FRL); South Newton Senior High School (math 24% / reading 64%, grade F, #169 of 369 statewide, top 51%, 242 students, 52% FRL).
• Market conditions: 11 active listings in the ZIP; 24 units permitted in Newton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.6%/yr); year-one equity from $207 of loan paydown is wiped out by about $784 of value loss. Plan a longer hold.
• Newton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.6% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 3.44% ✓
• Cap rate: 27.30%
• Cash-on-cash: 75.01%
• DSCR: 4.34
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $114,816
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 W Prairie Ave W	0.00mi	2/1.0	1,196 (0%)	1mo	$30,000	$25	99
310 S Iroquois St	0.08mi	3/1.0 (+1)	1,158 (-3%)	7mo	$65,000	$56	80
310 W Union St	0.16mi	2/1.0	1,180 (-1%)	22mo	$113,000	$96	72
307 N James St	0.58mi	3/1.5 (+1)	1,189 (-1%)	9mo	$115,759	$97	58
121 N Benton St	0.51mi	2/1.0	1,280 (+7%)	9mo	$165,000	$129	57
325 S James St	0.30mi	3/1.5 (+1)	1,312 (+10%)	12mo	$135,000	$103	53
523 S Central Ave	0.25mi	3/2.0 (+1)	1,336 (+12%)	9mo	$182,000	$136	52
302 N James St	0.53mi	3/1.5 (+1)	1,336 (+12%)	7mo	$88,000	$66	43
117 N Benton St	0.51mi	3/1.0 (+1)	1,324 (+11%)	21mo	$92,700	$70	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 75.2%
• Equity multiple: 4.47×
• Total profit: $29,131
• Equity at exit: $4,989

10-year hold

• IRR: 78.7%
• Equity multiple: 9.23×
• Total profit: $69,113
• Equity at exit: $3,489

Cash invested: $8,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47948

• Home prices YoY: -1.0%
• Active inventory: 11
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,030 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$119 /mo · $1,431/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $525

Break-even live

Break-even rent $366

Max offer price $30,000

Occupancy floor 44%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-14
   historical
2. 2026-04-12
   listed $30,000
3. 2019-11-06
   soldstatus $30,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,431 · $119/mo
• Projected year-2 tax: $1,431 · $119/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,366
• − Mortgage interest: −$1,680
• − Property taxes: −$1,431
• − Insurance: −$150
• − Repairs & maintenance: −$989
• − Management: −$989
• − Depreciation: −$873
• Taxable income: $6,254
• Est. tax owed @ 24.0%: −$1,501
• After-tax cash flow: $4,800/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: South Newton School Corporation
• NCES district ID: 1810470
• Math proficiency: 29% ▼ -18.00%
• Reading proficiency: 35% ▼ -14.00%
• Median HH income: $46,624
• Composite: 27.52/100
• National rank: #6952
• State rank: #219 of 301 in IN

Livability — Goodland

• Score: 64/100
• State rank: #402
• US rank: #14749

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D+ Housing B+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Goodland, IN
• Population (ZIP): 1,158

Population outlook (Newton County) Hauer SSP2

• Today (2025): 13,726 people
• By 2030: 13,448 · -2.0%
• By 2040: 12,771 · -7.0%
• By 2050: 12,104 · -11.8%
• By 2075: 11,059 · -19.4%
• By 2100: 9,813 · -28.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 7% Iranian 5% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Newton

• 2024 margin: Solid R (+57.0) · D 20.8% · R 77.7% · Other 1.5%
• 2008→2024 swing: -45.8pp toward R · 2008: -11.2pp · 2024: -57.0pp
• All cycles: 2024: R+57.0 2020: R+52.1 2016: R+46.1 2012: R+19.1 2008: R+11.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.61%
• Current HPI: 256.3507
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+0.0% since first listed

3 events — show timeline

• 2026-04-14 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 2026-04-12 Listed $30,000 NIRA MLS as Distributed by MLS Grid
• 2019-11-06 Sold (Public Records) $30,000 Public Records

Property tax history

+60.2%/yr

Latest (2024): $1,431 · +16.3% YoY. Source: county tax records.